In a bold move to revolutionize regional travel, Thailand is spearheading a proposal to establish a Schengen-like visa system among six Southeast Asian countries. This initiative is designed to build on the success of recent visa-free travel policies that have already proven effective, with Thailand experiencing a tourism boom, welcoming 28 million tourists in 2023 […]

Revenue from tourism amounted to €1.13 billion in the first half of 2024 marking an increase of 4.2% year on year, data released by CySTAT show. Based on the results of the Passengers Survey carried out by CySTAT, revenue from tourism in June 2024 reached €385.2 million compared to €361.5 mn in the corresponding month […]

The Research and Innovation Foundation (RIF) has published a report with all the grants it has given since 2016, with the two state universities receiving almost a third of some €180m. The report, entitled “2016 – May 2024: Cumulative funding table per beneficiary – the top 100 beneficiaries”, names the 100 leading public and private […]

Motorcycle registrations, concerning both small and large vehicles, are on the rise, occupying a significant part of the market. According to CySTAT data, motorcycle registrations for vehicles of over 50 cubic centimeters (cc) in the period January – July 2024 increased by 6.1%, reaching 2,218, compared to 2,090 in the corresponding period last year. At […]

Cyprus’ tourism revenue reached €385.2 million in June 2024, marking a 6.6 per cent rise compared to €361.5 million in the same month of the previous year. According to the Cyprus Statistical Service (Cystat), tourism revenue totalled €1.13 billion in the first half of 2024, up by 4.2 per cent from €1.09 billion during the corresponding period in 2023. The average expenditure […]

Brookstreet Equity Partners, a Greek-founded fund management firm, whose investment footprint includes Cyprus, this week launched a new investment platform based in London. According to an official announcement, the new platform focuses on critical sectors such as artificial intelligence (AI), green energy, as well as health and longevity. “We believe these sectors will drive the […]

The American University of Beirut – Mediterraneo (AUB Mediterraneo) will inaugurate its new Paphos campus on September 4, a significant milestone for its operations in Cyprus. The inaugural ceremony, scheduled for 7:00 pm on Wednesday, September 4 at Apostolou Pavlou Avenue 50, promises to be an event for both the university and the broader region. […]

The Cyprus Agricultural Payments Organisation (Capo) this week announced that it has established a strategic partnership with the Eratosthenes Centre of Excellence (ECoE), which operates within the Cyprus University of Technology (Tepak). According to the announcement, this key agreement was formally signed by Andreas Kyprianou, Capo Commissioner, and Diofantos G. Hadjimitsis, Managing Director of the ECoE. In their […]

Minister of Transport, Communications and Works Alexis Vafeades has said contractors will be in place to continue specefic works at Larnaca marina “in about a year.” These contractors, the Minister continued, will be responsible for implementing specific short-term reconstruction projects selected to continue. Speaking on Ant1’s midday news show on 27 August, Vafeades mentioned that […]

August has seen high occupancy rates at Cypriot hotels, reaching or even exceeding 90 per cent in some cases, according to Hoteliers’ Association (Pasyxe) general director Philokypros Rousounides. Rousounides noted that despite various challenges, including regional conflicts, economic downturns in the UK, and major sporting events, the industry remains resilient. In statements to local outlet InBusiness, […]

The Cyprus Real Estate Agents Registration Council this week announced that it will conduct examinations for aspiring new real estate agents on Saturday, 26 October 2024. According to the announcement, these exams are essential for candidates seeking registration in the council’s official registry. Council president Marinos Kineyirou said that “the written examinations are conducted in accordance with Article 11(1)(a)(v) of the […]

The University of Cyprus’ Economics Research Centre (CypERC) is entering the second phase of its tax reform project, it emerged on Monday, after it had been tasked to come up with a series of proposals by the government. The proposed tax reform is set to focus on green taxation, reducing dependence on expensive electricity, and […]

Cypriot tennis legend Marcos Baghdatis is to play a one-off exhibition match against former world number one Andre Agassi in Limassol in September.The match will mark the opening of the Marcos Baghdatis Tennis Academy, which will be located on the site of the City of Dreams Mediterranean resort. As well as the tennis match, the […]

The Energy Ministry has expressed satisfaction over the response to its ‘’photovoltaics for all’’ scheme from consumers. A press release says that by July the Ministry received 6,000 applications which were budgeted for the first phase of the scheme in the framework of a wider project which aims to sponsor the use of RES in […]

Τhe year-over-year growth rate of the Cyprus Composite Leading Economic Index (CCLEI) remained positive in July, the Economics Research Centre (CypERC) of the University of Cyprus says in a press release. The Index, it is added, recorded a year-over-year increase of 0.8% in July 2024, following the year-over-year increases of 0.9% and 0.8% recorded in […]

The economy is advancing positively and shows resilience, Minister of Finance Makis Keravnos has said. Keravnos submitted the six-month fiscal report and briefed the cabinet on the course of the economy, on 23 August. In statements after the cabinet meeting, Keravnos said the aim of the report is to ascertain whether the economic fundamentals lie […]